Location: Lee County, IA | Metro: Lee County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
The Fair Market Rent (FMR) for ZIP code 52648 in Unknown, Iowa, for metro fiscal year 2026 is set at $960. This figure represents the payment standard for Section 8 rentals, meaning the government will pay up to $960 per month for a unit in this area, based on the size and type of dwelling.
Note that this $960 is not the amount you can charge tenants as rent. Landlords must ensure that the total rent they set does not exceed the maximum allowable rent determined by HUD guidelines. The exact amount can vary slightly depending on the specifics of the property and location.
Unfortunately, specific data regarding average local rents and the percentage of renters in ZIP 52648 is currently unavailable. However, the lack of detailed local rent data suggests that there might be limited competition among landlords, which could mean steady demand for your rental units if they meet the criteria for Section 8 eligibility.
The acquisition cost for properties in this area is also marked as N/A, indicating that precise figures are not available. Nonetheless, it's crucial to assess the overall market conditions and property values in the region to ensure you're making a sound investment decision.
Before proceeding with a Section 8 rental, one critical step is to verify that your property meets all the necessary requirements for the program. This includes ensuring compliance with housing quality standards known as the Housing Quality Standards (HQS), which are essential for approval.
In summary, while the FMR of $960 sets a benchmark for potential income through the Section 8 program, landlords should research further into local market conditions and property compliance to make an informed decision.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.